Duplex with Private Storage
For Sale
$170,900
118 W 11th Street N, Newton, IA 50208
Residential, Duplex, Residential, Newton, IA
Property Size1,568 SF
Lot Size0.20 Acres
Price / SF$108.99
Days on Market94
Property Features for 118 W 11th Street N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3
Appliances
Dryer, Refrigerator, Stove, Washer
Elementary school district
Newton
Middle school district
Newton
High school district
Newton
Directions
First Ave W E to W 11th St N. Turn left and property is on the right.
Subdivision
Newton
Standard status
Active
APN
0833207001
Size
1,568 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
EXLINE'S ADD LOT 3 & N 9' 3" OF LOT 4 BLK 4
Tax Annual Amount
3097
Legal Description
EXLINE'S ADD LOT 3 & N 9' 3" OF LOT 4 BLK 4
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s)
Water source
Public
Amenities
appliances
storage shed
Building Details
Year built
2001
Building materials
WoodSiding
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Realty ONE Group Impact
(515) 446-7524
Listed By:
Corrie Davis
(515) 314-9843
Added: Jun 12
Changed: Sep 12
Last Checked: Sep 13 at 3:06PM
MLS# 742845
Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 1,568 square feet across two residences, with each unit offering 2 bedrooms, 1 bathroom, a full appliance package, and a separate storage shed. Included appliances are refrigerators, stoves, washers, and dryers. The 2001 property has wood siding, asphalt shingles, forced-air natural gas heating, and window-unit cooling.
The 0.2015-acre property is located at 118 W 11th Street N in Newton, Iowa, within Jasper County. It is served by public water and public sewer and carries R zoning. The duplex is also offered alongside the single-family home next door, with all three properties described as rented.
The 0.2015-acre property is located at 118 W 11th Street N in Newton, Iowa, within Jasper County. It is served by public water and public sewer and carries R zoning. The duplex is also offered alongside the single-family home next door, with all three properties described as rented.
Key Highlights
- Two‑unit duplex with 1,568 square feet
- Each unit has 2 bedrooms and 1 bathroom
- Separate storage shed provided for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,271
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$205,420
$205.4K
Cap Rate 7%
$146,729
$146.7K
Cap Rate 9%
$114,122
$114.1K
Market Conditions
NOI Build-Up for 1,568 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$16.0K $10.20/SF
− Vacancy
−$1.3K −$0.84/SF
EGI
$14.7K $9.36/SF
− OpEx
−$4.4K −$2.81/SF
NOI
$10.3K $6.55/SF
Area
Jasper County, IA
Vacancy
8.26%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$205,420
Cap Rate 7%
$146,729
Cap Rate 9%
$114,122
Alternative Uses
Best Use
Multifamily LT 5
$146.7K
$128.4K – $171.2K
NOI $10,271 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$135.0K
$118.1K – $157.5K
NOI $9,448 @ 7.0% cap · market cap 5.53%
Theoretical Best
Flex RnD
$1.51M
$1.32M – $1.76M
NOI $105,658 @ 7.0% cap · market cap 61.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
Explore this area
Business Placement
Demographics for 50208, IA
20,918
Population
8,919
Households
2.3
Avg Household Size
42
Median Age
17%
College-Educated
91%
High-School Grad
158.5 sq mi
ZIP Area
132
Density / Sq Mi
$61,064
Median Household Income
$37,490
Median Earnings
$830
Median Rent
$161,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each unit includes bedrooms, a bathroom, appliances, and a dedicated storage shed.
Where is this duplex located?
The property is located at 118 W 11th Street N Newton, IA.
What is the asking price?
The asking price for this property is $170,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,568 square feet; Each unit has 2 bedrooms and 1 bathroom; Separate storage shed provided for each unit
